Horizon Pharma Buys Raptor to Boost Rare Disease Portfolio

Sep 12, 2016

Horizon Pharma plc will acquire all of the issued and outstanding shares of Raptor Pharmaceutical Corp. common stock for $9.00 per share in cash, for a fully diluted equity value of about $800 million. The transaction is expected to close in the fourth quarter of 2016.

"The proposed acquisition of Raptor furthers our commitment to helping people with rare diseases and is a significant step in advancing our strategy to expand our rare disease business," said Timothy P. Walbert, chairman, president and CEO, Horizon Pharma. "Along with the potential for accelerated revenue growth, the addition of Raptor strengthens our U.S. orphan business and provides a platform to expand our orphan business in Europe and other key international markets."

Strategic and financial benefits of the transaction:

- Strengthens Horizon's focus on rare diseases and provides expansion into Europe and other international markets.

- Adds PROCYSBI® delayed-release capsules and QUINSAIR™ (aerosolized form of levofloxacin) global rights, with PROCYSBI having strong patent protection through 2034.

- Diversifies revenue with 11 medicines across three business units: orphan, rheumatology and primary care.

- Bolsters rare disease revenue, which in the first half of 2016 on a pro-forma basis was 45 percent of total Horizon Pharma revenue.

Read the full release

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